All Forum Posts by: Robert Gilstrap

Mohamed,

Welcome , I'm in Kennesaw as well but manage property all over Metro Atlanta. I'm no attorney but entity structuring / asset protection, trusts, etc. is kind of my hobby so if you need help just reach out. 

Which numbers? 

Average rents, sales prices? Demographics?   Kennesaw is just a great place to invest period. In fact Cobb County, GA is probably my #1 pick to invest in the state. 

I have clients worldwide that we help them identify and purchase to add to their portfolios and of course we manage that ongoing. If you would like some help in that area just give me a call and lets chat for a few minutes. 

John,

I own a  management company in Kennesaw, GA (excellent place to invest BTW) and we manage about 500 properties in and around Atlanta so give me a shout if you need assistance. I see so many out of state and foreign investors buying in the wrong areas and then have problems. 

Nicholas,

There are several ways to do this; if you contact me direct I can show you how.  Obviously you need to check your state laws to make sure you are compliant.

Not discouraging anybody from negotiating or seeking out the best deal possible. I'm just saying that for the most part "good work ain't cheap and cheap work ain't good". 

It has taken me the better part of 46 years to realize that people with talent are worth 10X what they cost at any price. During that same time I learned that we all get the same 24 hours allotted to us each day. Me, you and Bill Gates all start off each day equal. Our only difference is what we spend those hours doing. I could fill my hours trashing out houses, cutting grass or painting which was worth about $20/hour, I could fill it with fixing clogged toilets or hanging ceiling fans which was worth $35/hour or I could fill it with negotiating deals and buying houses which turned out to be worth  many thousands an hour. I still enjoy painting and doing my own repairs but I've learned that when I do I'm actually costing myself money and then it becomes less joyful to me. 

Ronald, I appreciate the fact that you recognize the necessity and value of good management. You are correct that the total cost of management is always more than just the monthly fee % but remember different things cost differently. 

If someone brings us an occupied unit then there is no fee to fill it. If you want us to fill it and guarantee the tenant we place then there is a fee for that because we, in turn, have to pay a real estate agent/broker some or even all of that $$ just like in any real estate transaction.

Property Management is a high volume, nickel dime business so even making a profit period is a challenge unless the company has very good systems.

I'm always blown away at the fact when investors are looking to hire a professional to do something they want to nickel and dime the process. So lets see...$1200/mo in rent and 10% is too much so let's try for 8% for a whopping $24/mo savings. How much do you pay someone to cut grass at a property per month? Hint: it's more than $120.00

So handing over one of your most valuable assets to someone whom you want stellar service from, you expect them to be professionally competent and you expect to have them look out for your best interests but you're worried about $24.

Price should be the last consideration when hiring a manager or any professional. A good manager will never cost you a penny.

Not to be disrespectful Sharon, but you have an incredibly skewed misunderstanding of what real estate management entails and this experienced real estate person who just finished her property management class I fear is about to get a great education in how not to conduct business.

I laugh when I hear owners who think that a manager should share in the losses of the owners investment. Do they get to share in the upside profits when you sell? Do they get the tax advantages, if they save you $500 on a repair what percentage of that are you giving them? Nothing right?

You are the owner of the investment. You bought it and you get the good with the bad. If you don't want any bad then you are in the wrong business.

You seem to have a mistrust of all property managers (perhaps justified) and the entire system in which they operate. I could go point by point on everything you've said but the reply would be pages long and I don't want to bore anybody. That being said if you want to see the value a Professional Manager can bring then read this Google Doc I put together. It's not polished or anything but worth the read.

Property Managers take on a huge amount of risk and liability and a good manager will save you far more than you ever pay them in fees. 

Everyone wants the best deal possible when buying a product or service but being cheap in hiring a manager is a costly move. You're about to hand over control of perhaps your most valuable asset to this person so trying to save $40 - $50 has always sounded crazy to me. You absolutely get what you pay for. Focus on their skills and expertise, price should be the last consideration when hiring a manager.

Suresh, 

Give me a call we handle that area. See my contact info.